The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-24
THE BUSINESS OUTLOOK.
=. G. Dun s. Co.'s Weekly Review of the
Condition of Trade.


Condition of Trade.
NEW YORK. Sept. 23.-R G.. Dun & Co.'S
weekly review of trade says: A sudden change
in the governments policy brings hopefulness
to the local money market. Possibly indeed,
too much may be expected, Treasury purchases
cannot entirely remove the consequences of
short crop, harmful speculation. overhasty de-
velopment, or the change OF active into fixed
capital Wall street looks for the whole Of the
$14. 600, 000 but large part of the bonds will
come from the interior, and the money will go
thither. Much of it is wanted TO meet
commitments in new enterprises, and may be
absorbed. The speculative advances in prices
which at once begun, will make more money
needed to carry the same stocks products.
The country is now using. outside the treasury,
ST, 1913, OO0 COO of various kinds of money, and
clear addition OF per cent would not go very
far. But the disbursement will not be wholly
addition of currency to the in use, be-
cause government receipts exceed regular
pendltures by s., 1000 more each
week. The best of 1t is that the
Treasury has done. and so may
be expected TO do, whatever it to avoid dis
turbance. While money is instantly made easier
in Wall street. it grows tighter throughout the
interior. The effects of absorption of capital in
building and rapid development each week
felt more clearly. At Cleveland money is very
close At Chicago the constant demand from
country towns causes a pressure from which
relaxation at Dresent is expected Recent fail
failures also cause pressure at Cncin-
natl, where per cent is commonly
paid at New Orleans money has not been
tight since the Grant-Ward failure At Kansas
City. Omaha and Milwaukee money is close. and
from nearly all points collections are reported
''sow" or ''only fair" During the past week
the Treasury has paid out s., 500. 900 more than
Il has taken in, SO that its payments exceed it's
receipts for the month by 81 100 000 Gold con-
tinues to arrive from Europe, but more is
shipped; the merchandise exports from New
York for three weeks are per cent. above last
year, against an increase of 101 per cent. in i'm
ports here. IL is still the fact that gold comes
only for investment or speculation. that dis
couragement might turn the tide. Clearngs
continue to show an increase over last year, for
last week z. 3 per cent; this, however, includes
large payments on account of building and spec
ulation.
in the trade, and from continued heavy
importations and while the best brands of pig
iron are firm the heavy output tends to weaken
other grades. One large order for rails has
been cancelled. Boot and shoe sales not up
to recent expectations. travellers reporting
orders contracted by monetary pressure
Leather and hides consequently dull, and
Stacking in the wooden goods trade
checks the late promise of greater activity in
wool. Dry goods experience reaction
from the unusual activity of recent weeks, but
prices firmly held. Prices in the stock mar
ket declined Monday and Tuesday to the lowest
Wheat is also lifting little and specula-
tion appears in oil. with some advances in coffee
The tendency for the moment is to advance
prices in all markets on account Of Treasury dis
bursements but the shortness of crops and the
absorption of capital into fixed forms must still
have some influence.
The business failures during the last seven
days number for the United States 1885, and for
Canada 81 total of 1873 compared with 1SS
last week and 1877 for the corresponding week of
1856